Press release
Sulphur Recovery Technology Market Value to Reach US$ 2,135.0 Mn by 2026
Sulphur recovery is defined as the conversion of hydrogen sulfide to elemental sulphur. Hydrogen sulfide is one of the major by-products of processing high sulphur crude oils and natural gas. Increasing focus on regulations to reduce levels of sulphur in products and lower sulphur emissions has in turn resulted in increase in demand for deployment of sulphur recovery technologies. Sulphur recovery technologies are mainly based on two processes: Claus and Tail Gas Treatment process.
Global sulphur recovery technology market is projected to register a healthy CAGR of 11.5% in terms of value during the forecast period (2016–2026). This is mainly attributed to various factors, regarding which FMI offers detailed insights in its report.
Drivers and Trends
Growth of global sulphur recovery technology market is influenced by a number of factors primarily, increasing oil & gas exploration activities and stringent environmental regulations. Growing number of refineries and gas processing plants have also enhanced the market for sulphur recovery technologies worldwide.
Key trends observed in the global sulphur recovery technology market are increasing partnerships between refineries and fertilizer producers and modifications to enhance sulphur recovery technologies. Along with this, refineries are adopting specialized Tail Gas treatment recovery process to enhance their sulphur recovery yield.
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By technology, global sulphur recovery technology market has been segmented into Claus Process and Tail Gas Treatment. Tail Gas treatment segment is expected to register a CAGR of 11.7% in terms of value over the forecast period.
On the basis of source of recovery, global sulphur recovery technology market has been segmented into oil, gas, and others. The gas segment is expected to register a CAGR of 11.0% in terms of value over the forecast period. The recovery of sulphur through gas is largest as compared with other sources. This is mainly attributed to increasing demand for gas and rising number of gas processing plants in Middle East and Central Asia.
Key Regions
The global sulphur recovery technology market covers four major regions namely, Americas, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). Middle East & Africa has been estimated to dominate the market with share of 51.8% in 2015, followed by Europe and APAC. Among all the regions, Americas market is anticipated to register the highest CAGR over 2016–2026, followed by APAC.
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Key Players
Key players in the global sulphur recovery technology market include Chiyoda Corporation, Jacobs Engineering Group Inc., Amec Foster Wheeler, Technip SA, Linde AG, WorleyParsons Ltd., Fluor Corporation, KT – Kinetics Technology SpA, GTC Technology US, LLC, PROSERNAT, and Black & Veatch Holding Company. The aforementioned companies are executing various projects that also include sulphur recovery technology. For example, in 2015 WorleyParsons was awarded a technology deal for sulphur plant project by Bahrain Petroleum Company (BAPCO). The sulphur recovery and associated process technology of WorleyParsons would be deployed for BAPCO’s number 3 sulphur plant to be installed as a part of the Bapco Modernisation Program (BMP).
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